Bursa snaps losing streak to open marginally higher

KUALA LUMPUR, May 19 — Bursa Malaysia snapped its losing-streak to open marginally higher, in early trading today, on bargain-hunting activities in line with the overnight rebound on Wall Street, dealers said.

At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.62 points higher at 1,768.79 from yesterday’s close of 1,767.17.

The index opened 1.23 points higher at 1,768.40 at 9 am.Gainers thumped losers 231 to 85 while 175 counters remained unchanged with 1,257 untraded and 20 others were suspended.

Turnover stood at 134.94 million shares worth RM67.19 million.Dealer said the FBM KLCI opened marginally higher, lifted by positive sentiment after US stocks steadied following the previous day’s savage sell-off.

Among heavyweights, MISC rose six sen to RM7.59, Digi.com gained one sen to RM5, IHH edged up three sen to RM6.05 but Westports gave up four sen to RM3.86 while Maxis was flat at RM6.49.